Hiscox evolves management structure

Hiscox has made two senior appointments as it evolves its management structure to build on what it described as growth momentum in its retail businesses.

Ben Walter, chief executive officer of Hiscox USA, will relocate to London to take up the new role of chief executive officer Hiscox Global Retail, with effect from 1 July 2018.

According to Hiscox Walter will lead its retail operations, including Hiscox UK & Ireland, Hiscox Europe, Hiscox USA and Hiscox Special Risks. He will focus on driving product innovation and growth across the Group's retail operations, where Hiscox sees plenty of opportunity.

Steve Langan, chief executive officer of Hiscox UK & Europe, will relocate to New York to take up the role of chief executive officer Hiscox USA, also effective from 1 July 2018. Langan will focus on driving Hiscox USA's next phase of growth, drawing on his experience of building retail brands around the world, both at Hiscox and previously at Diageo and Coca Cola. He will also remain chief marketing officer for Hiscox.

Both appointments are subject to regulatory and immigration approvals

“Hiscox's growth in retail markets, particularly over the last 10 years, has changed the shape of our business,” said Bronek Masojada, Hiscox Group chief executive officer. “We are no longer a Lloyd's player with retail operations on the side, and as our business evolves we need to be able to respond to the huge opportunity ahead.

"Our retail businesses span 12 countries and are at different stages of their journey, but they share similar challenges and opportunities such as brand building, leveraging scale and digitisation. These appointments will help us continue on our path of building a group which can thrive at all stages of the insurance cycle."

Both Walter and Langan will remain on the executive committee and Hiscox will begin the process of recruiting a new UK & Ireland chief executive officer in the autumn.